Outgoing Governor Samuel Ortom of Benue State officially handed over the reins of leadership to the incoming governor, Rev. Fr. Hyacinth Alia, in a ceremony held at the Old Banquet Hall of the Government House in Makurdi on Sunday.
During his speech, Governor Ortom disclosed that his administration was leaving behind a significant debt burden of N187 billion. This debt comprised salary arrears, loans, contractual obligations, and other financial commitments. In a comprehensive handover note, he outlined that the state had accumulated a total of N734.9 billion in revenue over his eight-year tenure.
Governor Ortom acknowledged that the expenditure during his administration had reached N735.6 billion, indicating the challenging debt situation faced by the state. He emphasized that the handover note contained detailed information on the structure and activities of his administration, including sectoral briefs from various agencies, ministries, and departments.
Divided into three volumes, it covered the handover of all Ministries, Departments, and Agencies (MDAs) in volume one, the policy document of his administration (the Benue Development Plan) in volume two, and comprehensive briefs from ministries and agencies in part b. Part three contained highlights of the state’s debt profile and pension status.
Governor Ortom highlighted that the revenue sources, including the federation account, Value Added Tax, grants, loans, and others, had amounted to N734.9 billion by the end of April. However, the expenditure had surpassed this figure, standing at N735.6 billion during the same period. The accumulated debt of the state, comprising salary arrears, pension obligations, contractual commitments, and other liabilities, reached N187 billion.
Addressing the incoming governor, Governor Ortom encouraged him to leverage the forthcoming financial opportunities, such as the backlog of stamp duty and a N61 billion loan facility from the Central Bank of Nigeria, for a smooth transition and effective governance.
In response, the incoming governor expressed his appreciation to Governor Ortom for the seamless handover process.